ID: MRFR/CnM/3916-HCR | 139 Pages | Published By Priya Nagrale on March 2023
Technical Ceramics Market is projected to be worth USD 12,300.1 Million by 2028, registering a CAGR of 6.8% during the forecast period (2021 - 2028).
Technical Ceramics Market overview
The Technical Ceramics Market size is expected to grow by 7%. Technical ceramics are widely known as engineering ceramics. It is a material having high mechanical and thermal qualities. They are ideal for a wide range of industrial applications. The technical ceramics market has a wide range of segments. There is material, product, end-user industry, and regional segments in the market. Further, there are both oxide ceramics and non-oxide ceramics based on this substance. Monolithic ceramics, ceramic matrix composites, ceramic coatings, and other items make up the market by product.
There is demand from different end users of the market. The industries such as automotive, electrical and electronics, energy and power, medical, defence and aerospace are key end-users. The major task of Technical ceramics is to cover wind turbine components and to protect them from high-corrosion conditions. Heat, dust, moisture, and UV radiation are some of the factors that can affect the building.
However, with technical ceramics energy efficiency is possible. Many industries are showing special interest in this product due to its wide range of uses. In the forecast period, there is expected to be a wide range of use of technical ceramics. The market growth is exceptional due to product launches and innovations. Emerging regions have a high demand for technical ceramics that will contribute to high technical ceramics market value.
Covid 19 is adversely impacting many global markets. China is the first country to be affected by COVID-19. It is resulting in lockdown and restrictions. At the same time, it is the first country to cope with the situation well. The country has been affected by rapid virus spreads and quick, lockdowns. Furthermore, the manufacturing sector is has been severely affected. From 2020, the demand is growing gradually.
Furthermore, international exports account for a large portion of the Chinese economy. Demand remains low due to less production. In 2020, the Chinese technical ceramics market will have a high gloss. It is the largest manufacturer of consumer electronics. Products such as Smartphones, wires, cables, portable, TVs computing devices, gaming systems, and other electronic gadgets are high. This trend will contribute to the high demand for technical ceramics in upcoming years. Post covid 19, the scenario of this market remains stable.
Increasing demand from the medical industry is a crucial driver of the market. There are various medical devices that require technical ceramics. The use of ultrasonic cleaners and lithotripters are used in the dental market. Bioceramics are materials that are used in crucial organ implants and hip joints. It is a prominent sector that uses technical ceramics. Other important applications of technical ceramics are chemotherapy and radioactive glass microspheres procedures.
Technical ceramics are used in equipment such as liver cancer tools, orthodontic braces, coatings, and cardiovascular stents. Composite layers for gene therapy equipment contain the technical ceramics. All these factors expand the use of technical ceramics. It ultimately increases the revenue rates of this market. The ageing population is another factor leading to the high demand of this market.
Technical ceramics are growing in the region with a high geriatric population rate. Japans, India, China and Europe are regions with a high aged population. These markets have vast requirements for technical ceramics. The use of many medical devices creates high demand in the market. The prevalence of the chronic disease is another crucial driver of the market. All these factors will contribute to high technical ceramics market growth.
Technical ceramics are used by various end-users. It is used in automotive, electronics, energy, power, and defence, military, industrial and medical markets. The size and volume of these markets are rising. It is positively impacting the technical ceramics market. The semiconductors market will witness the massive growth in upcoming years. The rising need for energy will cause this in most of the markets. Demand from these end-users will play a crucial role in this market. The decision of end-users to expand their market will create promising growth opportunities.
Further, this market is witnessing high demand due to its exceptional features. Features of this product benefit various end-users. Technical ceramics properties such as exceptional temperature stability, robust performance and electrical properties attract many end-users. Conductive materials and semiconductor properties are other factors contributing to market growth.
In upcoming years, the features of technical ceramics will improve. These factors will create new demand from need users. There are different types of technical ceramics. Oxides and non-oxides materials are two categories in the market. The emergence of new non-oxides will create exceptional growth. All these technical ceramics market growth will expand the overall market.
The high cost of technical ceramics is a crucial driver of this market. Ceramics are expansive materials. They are durable, efficient and effective for various applications. Due to the fine qualities, the cost of technical ceramics is high.
Due to its high cost, the demand from developing regions can decline. Especially, Asia pacific market requires cost-efficient technical ceramics. Also, the range of cost differs with each application of technical ceramic. The cost of technical ceramics for health devices is more costly. The high cost can act as a major restraint that can hamper growth.
A slow adoption rate is a challenging factor of this market. In many regions, there is a slow adoption rate of technical ceramics. The use of this product is prevalent in many regions. However, the applications of this market are continuously widening. However, less adoption among new applications can affect market growth.
In many regions recycling has become a common practice. In especially, the medical sector is recycling its medical devices to reduce costs. Less recycling of technical ceramics in various industries is another major challenge. This challenge can largely affect market growth. Also, key players are ensuring more adoption of technical ceramics in the forecast period.
The technical ceramics market trends is constantly surging. There are key factors contributing to the growth of this market. The growth of non-oxide materials will lead to more demand. Non-oxides have high applications among end-users. Further, the electronics and semiconductors market will hold large market shares. The medical industry is expected to have a higher need for technical ceramics in upcoming years.
However, a slow adoption rate can hamper market adoption. The high-cost f this material can affect the demand from emerging markets. Still, a wide range of growth opportunities will sustain market growth.
The Asia-Pacific region dominates with technical ceramics market share. The expanding use of technical ceramics in the electronics and semiconductor industries is contributing to high growth. Also, the automotive industry has immense demand for the market. China and Japan are the largest producers of technical ceramics.
China is investing millions of dollars in technical ceramics. Disposable income in this market is surging. Due to this, spending on technical ceramics is high. China holds more than 26% of the market shares. The usage of technical ceramics is high in private hospitals and health facilities. Increased demand in India is another demand driving factor of the market.
Technical ceramics Market by Material Type:
Technical ceramics Market by Product Type
Technical ceramics Market by End-Use Industry
On the basis of Region:
The Global Technical ceramics Market Share, by Product Type:
Source: MRFR analysis
The technical ceramics market is diversified into Asia Pacific, Europe and North America. Asia pacific contributes a higher growth rate for the market. Technical ceramics have a higher need in the electronics market. Semiconductors have massive scope in Asia pacific. Japan, India and China are crucial contributors to the market.
Due to this, the demand from these regions will play a crucial role in market growth. North America is a crucial market with high demand. It is a large market with a high number of investments. The developments in terms of the product range are high in this market. Further, Europe is another crucial market with high market growth. Demand for the automotive sector will create high growth opportunities. This entire regional player will contribute to high market profitability.
The key players in the technical ceramics market are
|Market Size||2030: Significant value|
|CAGR||2020–2030: 4.80% CAGR|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product, Material, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||CeramTec GmbH (Germany), Kyocera Corporation (Japan), Morgan Advanced Materials (U.K), Saint-Gobain Ceramic Materials (U.S.), McDanel Advanced Ceramic Technologies (U.S.), 3M Company (U.S.), Rauschert Steinbach GmbH (Germany) , Dyson Technical Ceramics Limited (U.K), Superior Technical Ceramics (U.S.), NGK Spark Plug Co., Ltd. (Japan)|
|Key Market Opportunities||The growing automotive and electrical & electronic industry in the developing regions are expected to substantially contribute to the growth|
|Key Market Drivers||The growing demand for technical ceramics in end user industries is the major factor driving the market growth|
Technical ceramics are nonmetallic, inorganic materials exhibiting semiconductivity, nonlinear resistance, high stiffness, high temperature stability, and low thermal expansion.
Ceramic matrix composites are the leading product type in the technical ceramics market.
The growing demand from the electrical and electronics industry is the major driver for the technical ceramics market.
Asia Pacific holds the largest share in the global technical ceramics market.
Leading players in the market include Saint-Gobain, CeramTec, and Kyocera, among others.